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cincynate
Joined: 07 Jul 2009
Location: Jeju-do, South Korea
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 Posted: Thu Nov 10, 2011 10:21 pm Post subject: |
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you can only have one account - open two and send money home from both of them if you dont belive me!
You cannot have two or mor accounts, even if you wire less than the legal limit per year |
That's totally wrong. I have accounts at KEB, Nong Hyup, and Woribank. I wire money home from all of them. You can have as many accounts as you want. |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Thu Nov 10, 2011 10:52 pm Post subject: |
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That's interesting as I was told (by bank tellers) that we could only choose one bank to wire money home from.
http://waygook.org/index.php?topic=1770.0
| Waygook.org wrote: |
Can I send money home with multiple banks?
No. You can only assign ONE bank to do overseas remittance. For example, if you have an NH and KEB account, you can only do overseas remitance with KEB or vice versa. |
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cincynate
Joined: 07 Jul 2009
Location: Jeju-do, South Korea
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| Posted: Fri Nov 11, 2011 2:01 am Post subject: |
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| Well.. we all know about how information is passed in Korea. That may have come from one person who didn't understand the question or something. All I know is that I was able to do it, and I even told the person at KEB that I usually use Nong Hyup. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Fri Nov 11, 2011 2:07 am Post subject: |
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| ThingsComeAround wrote: |
That's interesting as I was told (by bank tellers) that we could only choose one bank to wire money home from.
http://waygook.org/index.php?topic=1770.0
| Waygook.org wrote: |
Can I send money home with multiple banks?
No. You can only assign ONE bank to do overseas remittance. For example, if you have an NH and KEB account, you can only do overseas remitance with KEB or vice versa. |
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I've sent money home through both KEB and Kookmin. |
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88Sparky
Joined: 02 Oct 2011
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| Posted: Fri Nov 11, 2011 6:45 am Post subject: |
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| Captain Corea wrote: |
| ThingsComeAround wrote: |
That's interesting as I was told (by bank tellers) that we could only choose one bank to wire money home from.
http://waygook.org/index.php?topic=1770.0
| Waygook.org wrote: |
Can I send money home with multiple banks?
No. You can only assign ONE bank to do overseas remittance. For example, if you have an NH and KEB account, you can only do overseas remitance with KEB or vice versa. |
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I've sent money home through both KEB and Kookmin. |
Well, you can only use one bank to convert currencies. Maybe there is some gray here. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Fri Nov 11, 2011 9:53 pm Post subject: |
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| I've been here for 10 years and used both of those banks for converting and sending money home. |
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uklathemock
Joined: 26 Dec 2009
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| Posted: Sat Nov 12, 2011 12:30 am Post subject: |
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| TheUrbanMyth wrote: |
| swinewho wrote: |
| Quote: |
You can wire as much as you want home without worry or double taxation.
(US citizens are allowed to earn about US$80-90k per year tax free in foreign income).
You can CARRY up to US$10,000 without any paperwork.
- IF you carry more than $10k you need to fill in the paperwork and declare it (leaving Korea and entering the US).
- (failure to do so can result in confiscation of the money by customs officials).
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ITA with the above. Except some banks may limit you to wiring 50 million krw annually. If you have multiple accounts at different banks, then you might be able to get away with exceeding that limit but can't say for sure. |
No - you can only have 1 account to wire money home to. There is a limit to how much you can wire home a year as well - about $25,000 I seem to remember??? - hence the reason why you can only have one wire account.
This is the case with KEB anyway! BUT you can only have one account - open two and send money home from both of them if you dont belive me!
You cannot have two or mor accounts, even if you wire less than the legal limit per year! |
WHAT?
I have two accounts here and I've wired money home from both of them. I don't know where you heard this. |
I have two accounts as well and wired more than $50,000 in one year. You just have to show pay stubs from your employer to wire over the limit. So, keep your pay stubs. |
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HELICIS
Joined: 15 Sep 2011
Location: USA
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| Posted: Sat Nov 12, 2011 5:52 pm Post subject: |
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| How about getting some Travelers Checks and sending them to a trusted relative? Send them EMS and require a signature to receive them on the other end. I've sent lots of money home that way. Just list them as a letter or business contract and wrap them well. |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Sun Nov 13, 2011 4:06 pm Post subject: |
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| Captain Corea wrote: |
| I've been here for 10 years and used both of those banks for converting and sending money home. |
You are also on a different visa than most posters here 
I'm curious- when you arrived was the foreigner-banker relationship different? When I arrived in '07 it was a one bank deal & no international debit cards for us. Someone posted something about the banks being more lenient with foreigners in the past.  |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Sun Nov 13, 2011 4:10 pm Post subject: |
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When I arrived, I set up an account with Gookmin. Kept it for years (may still have it, but don't use it much). Sent funds back home from that account numerous times.
About 5-6 years ago, I set up a couple of accounts with KEB. Sent money home through them as well.
Never once did anyone at either bank mention anything to me about this.
I got my F5 about 2-3 years ago.
As to your question about banks and leniency - possibly. I remember getting an 'overseas' debit card with no questions asked in 2002. /shrug |
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